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Entity Subsidiaries

: Indorama Corporation

Subsidiary	Percentage	From	To
Indorama Eleme Fertilizer & Chemicals Limited	100.00%	01/2016	12/2050
Indorama Eleme Petrochemicals Limited	100.00%	06/2006	12/2050
Valor Petrochemicals Limited	50.00%	01/2025	12/2050